West Coast Financial LLC decreased its stake in Nordstrom, Inc. (NYSE:JWN) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 119,269 shares of the specialty retailer’s stock after selling 2,166 shares during the period. Nordstrom accounts for approximately 1.8% of West Coast Financial LLC’s portfolio, making the stock its 17th largest position. West Coast Financial LLC owned approximately 0.07% of Nordstrom worth $5,554,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of JWN. Artemis Investment Management LLP purchased a new position in Nordstrom during the fourth quarter valued at approximately $6,136,000. Smith Asset Management Group LP bought a new stake in Nordstrom during the third quarter worth approximately $62,974,000. Moreno Evelyn V boosted its stake in Nordstrom by 6.9% in the first quarter. Moreno Evelyn V now owns 91,875 shares of the specialty retailer’s stock worth $4,279,000 after buying an additional 5,970 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the specialty retailer’s stock worth $141,701,000 after buying an additional 2,718,233 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Nordstrom by 1.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 288,437 shares of the specialty retailer’s stock worth $14,964,000 after buying an additional 2,935 shares during the period. 66.03% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom, Inc. (NYSE:JWN) traded up 2.88% during mid-day trading on Thursday, reaching $47.87. 3,037,210 shares of the company’s stock traded hands. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 23.70 and a beta of 1.01. The firm’s 50-day moving average price is $44.69 and its 200 day moving average price is $49.19. Nordstrom, Inc. has a one year low of $35.01 and a one year high of $62.82. Nordstrom also saw some unusual options trading activity on Wednesday. Investors acquired 12,066 call options on the company. This represents an increase of approximately 456% compared to the typical volume of 2,170 call options.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.22. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The company earned $4.24 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business posted $1.17 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Nordstrom, Inc. will post $2.92 EPS for the current year.
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JWN has been the topic of a number of research reports. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 10th. Vetr cut shares of Nordstrom from a “buy” rating to a “hold” rating and set a $44.40 price target on the stock. in a report on Thursday, February 2nd. Stifel Nicolaus cut shares of Nordstrom from a “buy” rating to a “hold” rating and lowered their price target for the stock from $62.00 to $40.00 in a report on Tuesday, January 17th. Royal Bank of Canada set a $59.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a report on Thursday, January 5th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 price target on shares of Nordstrom in a report on Monday, March 27th. Seven research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.06.
In related news, President Blake W. Nordstrom sold 1,905 shares of Nordstrom stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $45.08, for a total transaction of $85,877.40. Following the completion of the sale, the president now owns 2,142,492 shares in the company, valued at approximately $96,583,539.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Blake W. Nordstrom sold 1,558 shares of Nordstrom stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $47.50, for a total transaction of $74,005.00. Following the sale, the president now owns 2,115,346 shares of the company’s stock, valued at approximately $100,478,935. The disclosure for this sale can be found here. Insiders have sold a total of 19,333 shares of company stock valued at $888,010 in the last quarter. 7.03% of the stock is currently owned by company insiders.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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